Exhibit 99.51
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
MARCH 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal ................... $ 302,752.30 $ 271,188.57
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(b) Interest .................... $ 2,980,421.65 $ 571,391.90
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(c) Total ....................... $ 3,283,173.95 $ 842,580.47
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2. Aggregate Monthly Payments Received and
Monthly Advances made this month:
(a) Principal ................... $ 302,752.30 $ 271,188.57
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(b) Interest .................... $ 2,908,349.62 $ 557,229.84
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(c) Total ....................... $ 3,211,101.92 $ 828,418.41
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3. Aggregate Principal Prepayments in part
received and and applied in the
applicable Prepayment
Period: ......................... $ 62,715.79 $ 97,036.65
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4. Aggregate Principal Prepayments in full
received in the applicable Prepayment
Period: Pool 1 Pool 2
------ ------
(a) Principal ................... $ 4,055,518.51 $ 1,291,516.00
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(b) Interest .................... $ 7,540.51 $ 3,586.27
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(c) Total ....................... $ 4,063,059.02 $ 1,295,102.27
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5. Aggregate Insurance Proceeds (including
purchases of Mortgage Loans by primary
mortgage insurers) for prior month:
(a) Principal ................... $ 0.00 $ 0.00
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(b) Interest .................... $ 0.00 $ 0.00
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(c) Total ....................... $ 0.00 $ 0.00
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6. Aggregate Liquidation Proceeds for prior
month:
(a) Principal ................... $ 0.00 $ 0.00
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(b) Interest .................... $ 0.00 $ 0.00
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(c) Total ....................... $ 0.00 $ 0.00
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7. Aggregate Purchase Prices for Defaulted
and Modified Mortgage Loans:
(a) Principal ................... $ 0.00 $ 0.00
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(b) Interest .................... $ 0.00 $ 0.00
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(c) Total ....................... $ 0.00 $ 0.00
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8. Aggregate Purchase Prices (and
subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal ................... $ 544,939.31 $ 0.00
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(b) Interest .................... $ 3,395.84 $ 0.00
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(c) Total ....................... $ 548,335.15 $ 0.00
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9. Pool Scheduled Principal
Balance ......................... $445,387,559.03 $ 88,494,562.06
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10. Available Funds: ................. $ 7,885,211.88 $ 2,220,557.33
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11. Realized Losses for Prior Month: . $ 0.00 $ 0.00
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12. Aggregrate Realized Losses Pool 1 Pool 2
and Debt Service Reductions: ------ ------
(a) Deficient Valuations ........ $ 0.00 $ 0.00
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(b) Special Hazard Losses ....... $ 0.00 $ 0.00
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(c) Fraud Losses ................ $ 0.00 $ 0.00
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(d) Excess Bankruptcy Losses .... $ 0.00 $ 0.00
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(e) Excess Special Hazard
Losses ...................... $ 0.00 $ 0.00
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(f) Excess Fraud Losses ......... $ 0.00 $ 0.00
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(g) Debt Service Reductions ..... $ 0.00 $ 0.00
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13. Compensating Interest Payment: ... $ 385.97 $ 229.94
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14. Accrued Certificate Interest, unpaid
Class Interest Shortfalls and Pay-out
Rate:
Class 1-A1 ............... $ 278,136.18 $ 0.00 $ 6.50000000%
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Class 1-A2 ............... $ 369,154.15 $ 0.00 $ 6.75000000%
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Class 1-A3 ............... $ 32,593.78 $ 0.00 $ 7.50000000%
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Class 1-A4 ............... $ 345,771.07 $ 0.00 $ 7.00000000%
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Class 1-A5 ............... $ 157,381.61 $ 0.00 $ 7.50000000%
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Class 1-A6 ............... $ 117,190.14 $ 0.00 $ 7.50000000%
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Class 1-A7 ............... $ 377,364.49 $ 0.00 $ 7.50000000%
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Class 1-A8 ............... $ 41,992.19 $ 0.00 $ 6.71875000%
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Class 1-A9 ............... $ 14,257.81 $ 0.00 $ 11.40625000%
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Class 1-A10 .............. $ 59,640.30 $ 0.00 $ 7.50000000%
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Class 1-A11 .............. $ 156,250.00 $ 0.00 $ 7.50000000%
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Class 1-A12 .............. $ 36,793.61 $ 0.00 $ 7.50000000%
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Class 1-A13 .............. $ 11,315.00 $ 0.00 $ 7.75000000%
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Class 1-A14 .............. $ 1,460.00 $ 0.00 $ 6.00000000%
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Class 1-A15 .............. $ 55,625.00 $ 0.00 $ 7.50000000%
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Class 1-A16 .............. $ 262,500.00 $ 0.00 $ 7.50000000%
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Class 1-A17 .............. $ 18,750.00 $ 0.00 $ 7.50000000%
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Class 1-S ................ $ 111,123.91 $ 0.00 $ 0.33287780%
--------------- --------------- ---------------
Class 1-M ................ $ 56,293.75 $ 0.00 $ 7.50000000%
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Class 1-B1 ............... $ 28,143.75 $ 0.00 $ 7.50000000%
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Class 1-B2 ............... $ 28,143.75 $ 0.00 $ 7.50000000%
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Class 1-B3 ............... $ 14,075.00 $ 0.00 $ 7.50000000%
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Class 1-B4 ............... $ 4,225.00 $ 0.00 $ 7.50000000%
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Class 1-B5 ............... $ 9,854.22 $ 0.00 $ 7.50000000%
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Class 1-R ................ $ 0.63 $ 0.00 $ 7.50000000%
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Class 1-RL ............... $ 0.63 $ 0.00 $ 7.50000000%
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Class 2-A1 ............... $ 88,923.33 $ 0.00 $ 7.00000000%
--------------- --------------- ---------------
Class 2-A2 ............... $ 71,299.58 $ 0.00 $ 6.50000000%
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Class 2-A3 ............... $ 69,501.25 $ 0.00 $ 6.50000000%
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Class 2-A4 ............... $ 10,830.83 $ 0.00 $ 7.00000000%
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Class 2-A5 ............... $ 144,660.83 $ 0.00 $ 7.00000000%
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Class 2-A6 ............... $ 72,997.13 $ 0.00 $ 7.00000000%
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Class 2-A7 ............... $ 52,500.00 $ 0.00 $ 7.00000000%
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Class 2-S ................ $ 35,661.43 $ 0.00 $ 0.50784849%
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Class 2-M ................ $ 5,251.55 $ 0.00 $ 7.00000000%
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Class 2-B1 ............... $ 2,625.77 $ 0.00 $ 7.00000000%
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Class 2-B2 ............... $ 2,625.77 $ 0.00 $ 7.00000000%
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Class 2-B3 ............... $ 1,575.46 $ 0.00 $ 7.00000000%
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Class 2-B4 ............... $ 1,050.29 $ 0.00 $ 7.00000000%
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Class 2-B5 ............... $ 1,312.89 $ 0.00 $ 7.00000000%
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15. Principal Distribution Amount:
Class 1-A1 .... $ 0.00 Class 2-A1 .... $ 283,623.83
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Class 1-A2 .... $ 0.00 Class 2-A2 .... $ 0.00
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Class 1-A3 .... $ 0.00 Class 2-A3 .... $ 0.00
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Class 1-A4 .... $ 415,428.37 Class 2-A4 .... $ 0.00
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Class 1-A5 .... $ 134,380.92 Class 2-A5 .... $ 67,471.95
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Class 1-A6 .... $ 103,832.22 Class 2-A6 .... $ 1,273,715.70
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Class 1-A7 .... $ 238,213.14 Class 2-A7 .... $ 27,069.88
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Class 1-A8 .... $ 1,072,732.39 Class 2-PO .... $ 413.45
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Class 1-A9 .... $ 214,546.48 Class 2-M ..... $ 2,707.79
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Class 1-A10 ... $ 707,591.51 Class 2-B1 .... $ 1,353.89
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Class 1-A11 ... $ 423,440.36 Class 2-B2 .... $ 1,353.89
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Class 1-A12 ... $ 0.00 Class 2-B3 .... $ 812.33
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Class 1-A13 ... $ 0.00 Class 2-B4 .... $ 541.56
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Class 1-A14 ... $ 0.00 Class 2-B5 .... $ 676.95
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Class 1-A15 ... $ 1,930,248.89
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Class 1-A16 ... $ 28,227.66
---------------
Class 1-A17 ... $ 2,016.26
---------------
Class 1-PO .... $ 11,183.67
---------------
Class 1-M ..... $ 6,053.57
---------------
Class 1-B1 .... $ 3,026.45
---------------
Class 1-B2 .... $ 3,026.45
---------------
Class 1-B3 .... $ 1,513.56
---------------
Class 1-B4 .... $ 454.34
---------------
Class 1-B5 .... $ 1,059.67
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Class 1-R ..... $ 100.00
---------------
Class 1-RL .... $ 100.00
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16. Additional Distributions to the Class R
Certificate pursuant to Section 4.01
(c): ............................................. $ 0
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17. Additional Distributions to the Class RL
Certificate pursuant to Section 2.05
(d): ............................................. $ 0
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18. Certificate Interest Rate of:
Class 1-A8 ....................................... 6.71875000%
---------------
Class 1-A9 ....................................... 11.40625000%
---------------
Class 1-S ........................................ 0.33287780%
---------------
Class 2-S ........................................ 0.50784849%
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B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ................ 94.98830000% 97.25000000%
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2. Group I Senior Percentage: ........ 84.97289460% 87.25294600%
--------------- ---------------
3. Group II Senior Percentage: ....... 10.01540540% 9.99705400%
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4. Senior Prepayment Percentage: ..... 100.00000000% 100.00000000%
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5. Group I Senior Prepayment Percentage: 100.00000000% 100.00000000%
--------------- ---------------
6. Group II Senior Prepayment Percent: .. 0.00000000% 0.00000000%
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7. Group I Scheduled Distribution Percent 0.00000000% N/A
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8. Group II Scheduled Distribution
Percentage: ..................... 0.00000000% N/A
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9. Junior Percentage: ................ 5.01170000% 2.75000000%
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10. Junior Prepayment Percentage: .... 0.00000000% 0.00000000%
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11. Subordinate Certificate Writedown: 0.00 0.00
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12. Prepayment Triggers satisfied: YES NO
--- --
Class 1-B1.................. X
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Class 1-B2.................. X
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Class 1-B3.................. X
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Class 1-B4.................. X
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Class 1-B5.................. X
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Class 2-B1.................. X
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Class 2-B2.................. X
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Class 2-B3.................. X
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Class 2-B4.................. X
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Class 2-B5.................. X
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MARCH 1997
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Xxxxx Xxxxxxx
-------------------------------
Xxxxx Xxxxxxx
Vice-President,
Investor Operations
